Elon Musk Supported X.AI Seeks SEC Approval for $1B Equity Offering

By: Eva Baxter

An artificial intelligence platform supported by tech magnate Elon Musk, X.AI, has filed with the Securities and Exchange Commission (SEC) to raise up to $1 billion through an equity offering. The filing highlights the participation of the Tesla billionaire as a key backer.

The offering necessitates a minimum investment of $2 million from potential investors. Almost $135 million of the offering has reportedly been sold already, demonstrating significant investor interest in the AI venture.

This significant equity offering underscores the growing intersection of artificial intelligence and blockchain technologies in the contemporary tech investment landscape.